eBay makes its independence PayPal – Europe 1

eBay makes its independence PayPal – Europe 1

Europe 1 Johann Duriez -Update with AFP Posted at 5:08 p.m., Sept. 30, 2014 amended to 11:01 p.m., October 30, 2014

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Johann Duriez -Update with AFP

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PayPal resumes independence In 2002, PayPal was acquired. by eBay for $ 1.5 billion (1.2 billion euro) while he was a young start-up founded three years earlier and had just IPO. Thirteen years later, the online payment service will regain its independence. According to the claims of its Board of Directors, management of the online auction portal announced Tuesday prepare to part with PayPal in 2015 Objective: conduct “more targeted investment strategies”

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A request came from shareholders The American giant of online sales has aligned itself with. arguments of its shareholders who demanded his split, agreeing to make his highly profitable payments subsidiary PayPal an independent company from next year. Existing shareholders will receive shares of eBay in the future company PayPal in proportion to their current shareholding in the group. The direction of the auction portal said in a press release have committed to this decision after careful examination of the various strategic options available to him.

PayPal nearly as profitable eBay. PayPal accounted for 41% of sales from eBay last year, and has over 152 million active accounts. According to eBay, a six dollar spent online through PayPal. Over the past twelve months, eBay would have earned 7.9 billion euros in turnover, up 10%. For its part, PayPal has achieved over the last twelve months to € 5.7 billion of economic activity (19%)

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A split for a “sustainable” future Shareholders can thus carry out “strategies. more targeted investment “and the group will give them the benefit of increased value” sustainable “, he has argued. “A changing competitive landscape will create very significant opportunity for eBay and PayPal. The separation will provide the opportunity for more sophisticated strategy and better position each of these activities to capitalize on these opportunities as independent entities, “said eBay. American company has set a target to complete well its dismantling in the second half 2015 Rumor of such an operation, had sought in vain activist investor Carl Icahn spring, circulated since late August.